There's probably more hype in Rio, just like there was lots of hype here for London because it was, well, here and pretty much every brand was an "official sponser" selling merchandise etc and people could see the build up such as the stadium being built, friends and relatives volunteering and it was more real and in your face.
I love the olympics and will be staying up most nights to watch the events I particularly like but I know lots aren't as bothered.
There's certainly a lack of press about the actual games themselves, e.g. I don't even know what the mascot is